Mitsui to spend $670 mln to keep up stake in Vale
TOKYO, June 13 (Reuters) - Mitsui & Co (8031.T: Quote, Profile, Research, Stock Buzz), Japan's second-biggest trading company, said on Friday it would spend about 75 billion yen ($670 million) to maintain its 15 percent ownership in Valepar S.A., a holding company of Vale (VALE5.SA: Quote, Profile, Research, Stock Buzz)(RIO.N: Quote, Profile, Research, Stock Buzz).
Vale, the world's biggest iron ore producer, recently said it would sell up to $15 billion in shares to help finance growth in its existing businesses and potential acquisitions.
Mitsui's stake in Vale will stay at 5 percent as a result, a Mitsui spokeswoman said.
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